Economics Minister Karl Schiller (SPD) had proposed revaluing (increasing the external value of) the Deutsche Mark, West Germany's currency, to reduce the country's inflation rate and the rate of growth of the country's businesses' income. He also wanted to reduce West Germany's economic dependence on the exports. However, his counterpart Finance Minister Franz-Josef Strauss (CSU) rejected the Deutsche Mark's revaluation, because his strong supporters, the Bavarian farmers, also opposed it. After all, the European Economic Community's foodstuffs prices were paid in US dollars, and the Deutsche Mark's revaluation would have made them less favourable for the West German farmers (i.e. more expensive for other Western Europeans to buy).
The coalition effectively ended already before the regular 1969 Bundestag elections, because of this revaluation conflict. In addition, enough West German voters were at last willing to give the Social Democratic leader, Foreign Minister Willy Brandt, a chance to govern West Germany. Brandt, who ran for the third time after 1961 and 1965, had shown sympathy towards those groups, like left-wing intellectuals and activists of German student movement, who had felt ignored by the Christian Democrat-led coalition governments. In addition, his clear intellect, remarkable self-control and straight essence (being) appealed to ordinary West Germans.
Disappointed Kiesinger bitterly complained about the faithless liberals. Though he had again achieved the plurality of votes for the CDU, he had to lead his party into opposition. He was succeeded as chairman by Rainer Barzel in 1971.